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Could This Tiny Box Power Your Home?It doesn't require sunlight. It doesn't require wind. It doesn't require power lines connected to a coal or nuclear plant.Find out why the billionaire lead investor behind Google and Amazon is calling it "the largest economic opportunity of the 21st century."
Here’s Why Shares of
Tesla are Dropping

 

After splitting 5:1 earlier this week, shares of Tesla
(TSLA) ran from $435.40 to a high of $502.08. 
From there, the stock took a dive to $440.49.

 

That’s happening for two reasons.

 

One, it just disclosed that one of its biggest shareholders
sold a good deal of stock.  In fact,
according to a U.S. SEC filing, Scotland-based Baillie Gifford & Co. cut
its stake to 39.53 million shares from 39.63 million shares.

 

However, according to The Wall Street Journal, the firm sold
to “meet internal guidelines that limit the percentage of the portfolio that
can be invested in a single stock,” as quoted by MarketWatch.

 

“We intend to remain significant shareholders for many years
ahead. We remain very optimistic about the future of the company. Tesla no
longer faces any difficulty in raising capital at scale from outside sources
but should there be serious setbacks in the share price we would welcome the
opportunity to once again increase our shareholding,” they added.

 

Two, the news comes just a day after Tesla announced it
would sell $5 million worth of stock. 

 

But don’t count the stock out just yet.

 

There’s still plenty of bullish momentum remaining for Tesla
and the EV boom. 

 

According to a new study
from the Boston Consulting Group, by 2025, EVs could account for a third of all
auto sales.  By 2030, EVs could surpass
internal combustion engine vehicles with a market share of 51%.   Plus, experts now predict that by 2030, electric cars
will make up 58% of the light vehicle market.

 

At
the moment, shares of Tesla are down $30.45 on the day to $444.60.


Ian L. Cooper




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